Unifeeder CEO and DP World marine COO Jesper Kristensen quits
Jesper Kristensen, chief executive of DP World-owned Unifeeder and chief operations officer of DP World’s ...
CHRW: NEW HIGH ON SELL-SIDE UPGRADEBA: BIG WINUPS: ON WATCHDSV: EXPECTATIONS RUNNING HIGH WMT: LEAST SHORTED STOCK KNIN: EARNINGS NEXTDHL: ENVISION DEALDHL: NEW CHINESE PARTNERFDX: GLOBAL IT OUTAGE IMPACT FELTUPS: GLOBAL IT OUTAGE IMPACT FELTJBHT: PAYOUT UNCHANGED ODFL: STEADY LOW YIELDMAERSK: BACK TO PRE-RED SEA CRISIS LEVELS
CHRW: NEW HIGH ON SELL-SIDE UPGRADEBA: BIG WINUPS: ON WATCHDSV: EXPECTATIONS RUNNING HIGH WMT: LEAST SHORTED STOCK KNIN: EARNINGS NEXTDHL: ENVISION DEALDHL: NEW CHINESE PARTNERFDX: GLOBAL IT OUTAGE IMPACT FELTUPS: GLOBAL IT OUTAGE IMPACT FELTJBHT: PAYOUT UNCHANGED ODFL: STEADY LOW YIELDMAERSK: BACK TO PRE-RED SEA CRISIS LEVELS
Gerry Wang, the charismatic co-founder, co-chair and CEO of Vancouver-based containership owner Seaspan Corporation, is to retire at the end of the year.
For 20 years, the often-outspoken Mr Wang has been a driving force behind Seaspan’s development into the world’s largest non-operating boxship owner.
However, the ‘watertight’ business model of buying container vessels to charter to blue-chip ocean carriers at fixed rates, backed by long-term charter parties, was dealt a body blow with the default of Hanjin Shipping in 2016. Mr Wang famously described it as liner shipping’s “Lehman moment”.
In an investor note ahead of its Q2 results today, Seaspan said Mr Wang “will retire…to focus on family business investments and his ongoing charitable efforts”.
Seaspan had earlier said it was still in negotiations with Mr Wang regarding a new employment agreement.
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